Starting a Business When You Have No Job or Live at Home with Your Parents

The first rule is when you live at home with your parents and you don’t have a job, you can’t be fucking choosy. I see this all the time. People say, “I need skills. I need help. But no, I don’t want to do that.”

That’s like the ugly chick at the prom saying, “I’m mad because this toad asked me out and I didn’t get Prince Charming.” Be glad you came to the prom.

I see a lot of people who misevaluate their marketplace value in the world. That’s why I put the thumbnail up, “Caution Baby Hustler Onboard.” If you were an experienced hustler, you wouldn’t be living at home with your parents and worried about money. The good news is you can become a hustler. You can start the process.

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Question: How can you find a golden egg in such a saturated market?

Answer: The other day I was on Craigslist and I was looking for a desk for my home office because all the other stuff is in the office. This guy had this ad on Craigslist and he’s so busy he can’t answer the phone. Forget about finding something that no one else knows about. Let that shit go.

There’s something called reclaimed furniture. It’s hot. Go to an abandoned building and take doors and windows and wood and make something beautiful with it. These people are getting millions of dollars.

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You need to find something that will teach you some new skills. Find a sales job. You’re going to have to do something radically different than what you’re doing. I know the title is about starting a business. I’m trying to give you the path I took.

I was living at the boarding house and went onto Monster.com and created my own reference and got a job. I knew I had to do something radically different, so I did. You’ve got to.

I started this business in 2009 with $285. Once again, you have to condition your mind to believe you can do it, before you can do it.

So, here are the steps.

#1. You can’t be choosy

#2. You need to get in a sales type job.

#3. You’re looking at a 1 to 5-year journey.

Get the sales job. Learn the skills and start your business. Unless you have some really special skill or you’re willing to put in 16 hour days to learn new skills, for the next six months to a year, you don’t have a lot of options.

One of the reasons I am doing this video is because we are having so many signals that the economy is contracting and a recession is coming. The state of Illinois is going bankrupt. They don’t have the money to pay their bills.

Before a major downturn, the recession contracts a little bit at first, then just starts dropping off. I predict that within 18 to 24 months we’re going to be in a recession. I could be wrong, but that’s what I am telling my clients. That’s what I am preparing for myself.

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Question: Should I save money like crazy to buy a business?

Answer: No. No. No. Here’s a fundamental problem with that idea. It sounds really, really good. It sounds great, right? But, if you don’t have any business management skills, it is dangerous. I would not do that. I would not recommend it. Now, if you already have business experience, that’s different.

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Jobs are being eliminated because of automation. We have a lot of new jobs requiring new skills that people aren’t prepared for yet. There are certain industries and they can’t get the people they need. They are having to actively immigrate geniuses from India and China for these jobs.

I’m going to give you a statistic and I want you to investigate it on your own. In the USA, every month, 330K people turn 18 years old. Now what does that mean? If you’re producing 130K jobs, we’re not producing enough jobs for the people who are becoming adults.

Then you have the older folks who say, “I’m not leaving my job because I need the money.” So, you have an older generation hanging onto their job. You have a younger generation who can’t find a job. You have other people who went to college and have somewhat of a job, but their school loan payments are kicking their ass so they can’t buy a house.

You have this housing bubble in certain cities where the price of a house outpaces what people can afford. Sears is closing stores. Macey’s is closing stores.

I feel like Amazon buying Whole Foods was the first recessionary pricing sale. It’s starting to feel like 2006, 2007. I had a thrift store at the time. My clientele was primarily immigrants. Then all of a sudden, I started seeing a bunch of white people. I’m seeing that all over the place. It’s coming.

The real reasons people can’t find jobs is because of automation and a lack of training for high-skilled positions. People are just not taking those hard classes.

Another indicator that a recession is coming is that crime is up. My bank was robbed. A phone store was robbed. This is happening right now.

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If you are in that bad situation living with your parents, you’ve got to start at the bottom. You can’t expect to come online and make fast money. I know some guru told you he was just like you and that six months ago he was on his sister’s couch and now he’s a multi-millionaire. That’s bullshit most of the time. It happens. I had my own hero story, but it happened over several years and not in months.

There is no recession proof job. The best way to prepare for this next recession is to build a recession proof hustle.

Question: What really made the difference for you Glendon? What got you out of the boarding house?

Answer: I got laid off three times in 18 months. That third time was the straw that broke the camel’s back for me. I decided I could not live like that anymore. I realized I could not depend on a job to give me money anymore. I was Salesman of the month when I got laid off. I was a good employee who came to work on time. I did everything they asked me and I still got fired.

I had a written plan to get out of the boarding house.

You need to start some hustles while you start your business. You need money right now. I fully understand that. A new business is like a baby. There’s a lot of potential, but in the beginning, someone has to change it. Someone has to bathe it. Someone has to feed it.

If you are trying to live off that business and it is not at a certain level, you will strangle your baby. That’s what a lot of people do. That’s why you’re going to have to come up with some hustles that generate $2K to $4K for living expenses for you.

We’re going to talk about that in the near future. Watch for it.

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